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Statistics |
| Unique Visitors: 1338 |
| Total Unique Visitors: 1033884 |
| Visitors Out: 6203 |
| Total Visitors Out: 6203 |
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| Ministry okays private participation in site clearance |
| 2008-05-09 15:56:00 |
The Ministry of Construction has agreed with a scheme prepared by HCMC in allowing the establishment of joint-stock companies in charge of site clearance which so far has been covered by State-owned public companies.
In March, the HCMC government wrote to the Government and relevant ministries to seek approval for private firms to be involved in site clearance and compensation services.
The...
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| Three more hydro-power plants built in Binh Dinh |
| 2008-05-09 15:53:00 |
Three hydropower plants, Vinh Son III, Vinh Son IV and Vinh Son V, are under construction in Vinh Son commune, Vinh Thach mountainous district, Binh Dinh province by Vinh Son-Song Hinh Hydro-power Joint Stock Company and Vinh Son Investment Joint Stock Company.
Construction sites are located on the Kon River. They will be built at a cost of VND 660 billion, VND 400 billion, and VND 600 billion...
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| Viet Nam needs to keep rice fields for food security |
| 2008-05-09 15:50:00 |
The Ministry of Agriculture and Rural Development (MARD) has predicted Viet Nam needs at least 4 million hectares of rice-growing land to ensure food security for the future.
The target is outlined in a new food security strategy the ministry is scheduled to finish by August this year.
Food Crop Research Institute Deputy Director Nguyen Tri Hoan said with its current rice acreage of over 4...
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| Vietnam - US enjoy strong trade ties |
| 2008-05-09 15:46:00 |
Vietnam-US trade has strongly developed since the two countries established diplomatic relations 13 years ago, especially following six-years implementing a bilateral trade agreement, with two-way trade reaching 13 billion USD in 2007.
Last year, Viet Nam earned about 10.5 billion USD from exports to the US , an increase of 28.9% over the previous year, taking the US to the top of Vietnam ’s...
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| Essential commodities price rise delayed |
| 2008-05-09 15:45:00 |
In a move to avoid making life difficult for the average citizen, a scheduled price increase in ten essential commodities will be put off, according to an official from the Finance Ministry’s Price Management Department.
The commodities initially slated for a price rise in June include oil and gas, electricity, coal, safe water, bus, train and plane tickets, cement, iron and steel and education...
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| Another hydropower plant joins national grid |
| 2008-05-09 15:43:00 |
The Krong Kma hydropower plant in the Central Highlands Dak Lak province was officially connected to the national grid on May 9.
The plant will generate an additional 53 million kWh for national power supply each year.
Construction of the 12 MW plant began in May 2005 with more than 250 billion VND investment capital from the Song Da Investment and Development Joint Stock Co under Song Da...
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| Viet Nam to pour 227m USD into solid waste treatment |
| 2008-05-09 15:38:00 |
Viet Nam will invest around 227 million USD in building two solid waste treatment plants for eight northern cities and provinces, the Ministry of Construction said.
The investment is part of a waste treatment plan for the northern key economic region between now and 2020.
One plant will be built on 140-160ha in Hanoi ’s outlying Soc Son district to process the capital city’s waste and service...
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| Indochina economic development association presented in Hanoi |
| 2008-05-09 06:08:00 |
The Vietnam – Laos – Cambodia Economic Cooperation Development Association was officially introduced on May 6, in Hanoi to contribute to developing economic cooperation among the three countries.
The Minister of Planning and Rural Development said that investment cooperation between Vietnam and two neighboring countries Lao and Cambodia was developing. Legal and policy frameworks with the two...
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| Medicine price hike delayed to end of June |
| 2008-05-09 06:07:00 |
Viet Nam Pharmaceuticals Managing Department said on May 8 that it will delay increasing medicine prices in June, in an effort to curb inflation and stabilize the market of essential commodities.
Provinces and cities such as Hanoi, Ho Chi Minh City, Hung Yen, Lam Dong, Ba Ria – Vung Tau and Dong Thap will put off medicine price increases in production centers from now to June 30.
16 office...
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| Rice Traders Halt Purchases Despite Falling Prices |
| 2008-05-09 06:01:00 |
Many rice traders in the Mekong Delta have stopped buying rice from farmers despite a price slump.
Retail prices shot up month following a buying binge by the public amid rumors of a shortage.
But prices have been relentlessly falling since. In some Mekong Delta provinces like Dong Thap, An Giang, and Vinh Long, paddy fell to VND5,400 per kilogram Thursday, and high-quality paddy to VND6,000--...
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| Ministry investigates cement stockpiling |
| 2008-05-09 05:55:00 |
The Ministry of Construction is investigating suspicions that southern-region cement distributors have been stockpiling cement to drive up prices.
The ministry has set up a board to investigate the southern-region cement market, looking at local cement production, supply, trading and producer and trader pricing in HCM City and neighbouring provinces from May 6 to 11.
The board also intends to...
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| Imports drive US dollar over dong |
| 2008-05-09 05:53:00 |
The US dollar has continued to stren-gthen against the dong. An increase in demand for imports is blamed for the rise. Vietcombank’s listed USD/VND exchange rate was 16,130/16,147, the highest for the year on Wednesday with the interbank rate at VND15,987.
It meant a selling price in the upper range of the +/-1 per cent trading band.
Bank rates listed yesterday were up about 0.76% against early...
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| A little dealing on the side: SOEs under fire |
| 2008-05-09 05:50:00 |
The dabbling of major State-owned enterprises in fields of business beyond their core competencies, e.g, an oil company building a tourist resort, or a construction company creating its own bank or stock brokerage, has begun to raise concerns in the financial sector and beyond.
A large portion of the capital for these "boutique" business ventures comes from commercial bank financing, placing the...
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| Samsung named best LCD TV maker |
| 2008-05-09 05:49:00 |
Samsung Vina Electronics has been granted its second consecutive award as No.1 brand for LCD TV in Viet Nam.
According to GfK Asia, in 2007 Samsung achieved sales growth of 350 per cent in LCD TVs compared with 2006. In January 2008, Samsung sold over 14,000 LCD TVs worth VND200 billion (US$12.5 million). The company has also unveiledl a wide range of multi-platform and high-definition products,...
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| 22.500 tonne cargo successfully launched |
| 2008-05-09 05:15:00 |
Diamond Falcon, a cargo vessel of 22,500 tonnes was successfully launched on May 8 by the Bach Dang Shipbuilding Industrial Corporation under the Vinashin economic group.
The vessel was built under to order for the Vietnam Oil and Gas Transport Joint Stock Company, a member of the Vietnam National Shipping Lines Group, Vinalines.
The vessel is 153.2 metres long, 26 metres wide and 13.75 metres...
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| Oil refinery and petro-chemichal complex – impetus for development of Nghi Son EZ |
| 2008-05-09 05:13:00 |
Domestic and foreign investors are paying greater attention to Nghi Son Economic Zone in Thanh Hoa province for its favourable and transparent investment environment. A ceremony to kick off the construction of the Nghi Son Oil Refining and Petrochemical Complex is scheduled to be held tomorrow May 10. This will be the important impetus for the development of this economic zone.
Nghi Son Economic...
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| Paper imports increase, enterprises still complain about shortage |
| 2008-05-09 05:09:00 |
Paper and pulp imports increased sharply in the first four months of the year, while big paper plants are running at full capacity. However, paper processing enterprises still complain that they cannot buy material paper for production.
Le Thanh Son, Head of Business Division under Anh Phu Paper Production Company, specialising in napkins, cardboard and pupils’ notebooks in Que Vo Industrial...
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| Petroleum prices should be VND700-2,000/litre higher |
| 2008-05-09 05:06:00 |
The Ministry of Industry and Trade (MOIT), after considering the oil prices in March, thinks that petroleum prices need to increase by VND700-2,000/litre.
MOIT has completed the drafting of the mechanism on petroleum prices for 2008, under which, with the average oil price of $106/barrel in March, domestic petroleum prices should be VND700-2,000/litre higher than the current price levels.
RON...
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| Locally-made laptops flutter |
| 2008-05-09 05:05:00 |
Vietnamese producers hoped to have no international rivals for their low-cost laptops but their dream hasn’t become true.
There is fierce competition among big names like HP, Acer, Dell and Toshiba in the market segment for laptop models of $500-600/unit so locally-assembled laptops can’t compete in terms of price.
In August 2005 when GCC, the distributor of Seagate hard disk drives in Vietnam,...
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| Viet Nam to double petrol, diesel reserves end '08 |
| 2008-05-09 04:45:00 |
Viet Nam, which relies almost entirely on oil product imports as it lacks major refineries, plans to double gasoline and diesel reserves to 10 days of consumption by the end of 2008, state media said on Friday.
The online newspaper VnExpress (www.vnexpress.net) quoted a proposal by the Trade and Industry Ministry as saying it had requested the government to add 220,000 metric tonnes to the...
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| Viet Nam to build two nuclear power plants |
| 2008-05-09 04:34:00 |
Viet Nam will build its first nuclear power plants, with a design capacity of 4,000 MW, at Phuoc Dinh and Vinh Hai in the southcentral province of Ninh Thuan from 2012-2014, said Vuong Huu Tan, Head of the Viet Nam Atomic Energy Commission.
At an international seminar in Hanoi on May 8, Mr Tan said that the investment reports for these projects will be completed in 2008 and then submitted to the...
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| Malaysia's Prestar to invest RM60m in Viet Nam by 2010 |
| 2008-05-09 03:11:00 |
Malaysia's Prestar Resources Bhd will invest a total of RM60 million in its newly set up steel manufacturing facility in Viet Nam from 2008 to 2010, said its group managing director Datuk Toh Yew Peng.
He said it had made an initial investment of RM20 million in its manufacturing facility in Viet Nam which was expected to start operations this month.
Speaking to reporters after its AGM here...
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| Work starts on second oil refinery |
| 2008-05-09 01:24:00 |
A ground breaking ceremony for one of the country’s largest and most important projects, the Nghi Son Petrochemical Refinery Complex, will take place tomorrow at Nghi Son Economic Zone, Tinh Gia District, in the northern province of Thanh Hoa.
The project’s investors will officially receive their investment licence to start construction one month earlier than expected.
The project has a total...
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| German contractor nominated for parliament building contract |
| 2008-05-09 00:14:00 |
The Ministry of Construction Thursday recommended a German consortium be awarded the contract to build a new National Assembly Hall in Hanoi.
The ministry is seeking the approval of Prime Minister Nguyen Tan Dung for German joint venture GMP International GmbH and Inros Lackner AG to be awarded the contract to design and build the new hall.
If approved, the new National Assembly Hall will...
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| Sanyo to build plant in Bac Giang |
| 2008-05-09 00:01:00 |
The Japanese manufacturer Sanyo plans to build an electronic optical transmission components plant in Quang Chau industrial zone in the northern province of Bac Giang.
The plant will be built on an area of 14.4 ha with an investment capital of 40 million USD.
An agreement on the land lease was scheduled to be signed on May 9....
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| Luxury cars to be hit with higher tax |
| 2008-05-05 00:31:00 |
The Government has allowed the Ministry of Finance to revise the special consumption tax on automobiles, raising it for some high-end cars models. Currently, automobiles are subject to a uniform special consumption tax of 50%.
In late April, the Ministry of Finance asked the Government to permit it to adjust the special consumption tax on automobiles, raising taxes on the imported luxury car...
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| Produce export to reap 700m USD by 2010 |
| 2008-05-05 00:29:00 |
Local experts are promoting the export of Vietnamese fruits and vegetables, which are expected to garner 700 million USD in turnover by 2010.
A recent programme signed between HCM City ’s Centre for Agriculture Consultancy and Support and the Holland-based Centre for the Promotion of Imports from Developing Countries will support the export of local vegetables to the European market.
Under the...
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| Novus joins trade mission to Viet Nam |
| 2008-05-04 23:38:00 |
Novus International Inc., participated in a recent trade mission to Vietnam with Missouri Department of Agriculture Director, Katie Smith. At the request of Missouri Governor Matt Blunt, Director Smith led the mission to assist Missouri based companies and suppliers in the expanding Viet Nam feed industry.
With a population of 85 million people, Viet Nam has the fastest growing economy in Asia....
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| Sputtering development |
| 2008-05-04 23:37:00 |
Lam Dong seeks new investors for a $1 billion highland resort complex after several failed attempts by previous stakeholders to complete their planned projects.
The Lam Dong administration is soliciting investment for a US$1 billion resort complex after revoking an agreement with a Japanese consortium to develop the largest-ever tourism project in the central highlands province.
The project...
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| Fair sees signing of 32 business contracts |
| 2008-05-04 23:01:00 |
As many as 201 Memorandum of Understandings and 32 contracts were signed by businesses as a result of the Vietnam High-quality Products Fair which wrapped up in Ho Chi Minh City on May 4.
The fair attracted 300 businesses who sold 42 billion VND worth of products during the six-day event.
The fair featured more than 1,000 booths showcasing a range of Vietnamese goods, including food, beverage,...
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| Nam Phu Yen economic zone established |
| 2008-05-04 23:00:00 |
The Prime Minister has decided to establish a new economic zone (EZ) in central Phu Yen province, which will support oil refinery, the petrochemical industry and related services, consumer goods production, processing industry and goods for export.
The PM’s Decision No. 54/2008/QD-TTg outlines the establishment and operation statutes of Nam (Southern) Phu Yen EZ.
The zone will be developed in...
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| Mammoth property project gets off ground in Dong Nai |
| 2008-05-04 22:21:00 |
A joint venture between Dong Nai-based Donacoop and its local and foreign partners yesterday began work on a billion -dollar property project consisting of a modern township in Long Thanh District, Dong Nai Province.
DonaCoop Chairman Bui Thanh Truc told the Daily after the ground-breaking ceremony that the property project by the Dong Nai River would be developed in phases within an expected...
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| Pasona to boost staffing operations in Viet Nam |
| 2008-05-04 22:18:00 |
Pasona Group Inc. will boost staffing operations in the information and technology field in Viet Nam, Chief Executive Yasuyuki Nanbu said in a recent interview with Jiji Press.
The group, which has Pasona Inc., the second largest staffing agency in Japan, under its wing, plans to provide manpower to Japanese companies operating in Viet Nam via a local software development company Pasona...
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| Halla starts work on heavy industry factory |
| 2008-05-04 22:17:00 |
Vina-Halla Heavy Industrial Co. on Tuesday commenced work on a heavy industry project at My Xuan B1 Industrial Zone in southern Ba Ria- Vung Tau province, manufacturing tools for industrial use.
The Korean company will develop the tool manufacturing facility costing US$28 million that will produce a wide variety of equipment, said Hyong Key Kwon, president and CEO of Halla Energy & Environment...
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| Viet Nam banks slow to expand ATM access |
| 2008-05-04 22:13:00 |
Despite the growing number of bank cards in issue in Vietnam, domestic banks have been slow to expand their ATM networks. As a result, at the end of each month, customers are often unable to locate an ATM where they can withdraw their salary, Viet Nam News reports.
Viet Nam has 50 ATMs for every 1 million inhabitants, or one ATM per 20,000 customers.
"The situation is caused by the fact that...
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| Railway industry to reduce fares to compete with buses |
| 2008-05-04 22:11:00 |
Sai Gon Railways Passenger Transportation Company has announced plans to lower ticket prices and improve services, targeting a dramatic rise in the number of customers.
Railroad workers this week met to discuss the industry’s share of the entire transport market, which accounts for only 8%.
The industry cannot meet demand during peak times such as holidays, while it has an insufficient number...
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| Zamil spends $20 mln to double its Viet Nam steel production |
| 2008-05-04 20:57:00 |
Zamil Industries set to spend US$20 million to increase capacity in Viet Nam to 100,000 tons a year from 50,000 tons in a bid to tap Asian demand for the construction material.
Zamil Steel, an affiliate of the Saudi Arabian maker of steel, air conditioners, glass and insulation, came to Viet Nam in 1993, operating as a representative office.
Zamil Steel Viet Nam, a joint venture between Zamil...
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| Asian countries agree to pay $80 bln for regional foreign reserve swap |
| 2008-05-04 20:55:00 |
Finance ministers from the Association of Southeast Asian Nations (ASEAN) as well as China, Japan and South Korea agreed Sunday on the minimum scale of a regional foreign reserve swap.
"We also agreed that the total size of the multilateralized CMI would be at least 80 billion U.S. dollars," finance chiefs from the 10-member ASEAN and three East Asian countries said in a joint statement after...
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| New PetroVietnam affiliate bows |
| 2008-05-04 11:07:00 |
PetroVietnam Construction Joint Stock Co, a subsidiary of the Viet Nam Oil & Gas Group (PetroVietnam), made its debut at a ceremony in Ha Noi last Thursday.
With charter capital of US$ 32.8 million and nearly 3,000 employees, PVC designs and supplies steel structures, pipelines and petroleum storages for onshore and offshore oil and gas projects....
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| Binh Dinh be dammed, with new projects |
| 2008-05-04 10:58:00 |
Construction of three hydropower plants in Vinh Thanh District in the south-central province of Binh Dinh began on Sunday.
Vinh Son Hydro-Electricity Plants 3,4 and 5, all situated upstream on the Kon River, are being built by the Vinh Son-Song Hinh Hydroelectricity Joint Stock Company and Vinh Son Investment Joint Stock Company.
The projects were initiated under a Government plan to develop...
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